Q&A with Sam Guevara: Ryan’s Approach to AI and the Firm’s Latest Innovations

Thanks for sitting down with us today, Sam. Please tell us a little about yourself and your role at Ryan.

Happy to be here. I am principal and practice leader of the Tax Technology practice at Ryan, where I focus on innovative technology solutions ranging from emerging technologies to data and analyzing augmented intelligence. I’ve been with the Firm going on five years and my 20-year plus career has been focused on indirect practice, technology, and emerging technology practices.

We'd like to discuss Ryan’s approach to tax innovation and developing technologies that combine augmented and human intelligence. Can you tell us about the latest developments from Ryan on this front?

Absolutely. Ryan is always looking for ways we can improve our clients’ experiences and innovate the tax industry. To this end, we recently finished developing an AI solution that is specific to product mapping. This solution solves one of the core questions in the taxability anatomy of a transaction which is: What is the item that is being sold or purchased?

This solution identifies what something is from a very limited product description (e.g., a Universal Product Code or short custom product description) and assigns the value to a valid Vertex tax category. The solution centers on leveraging Large Language Models (LLMs), such as ChatGPT, to enhance the description with additional data elements and attributes to assist in the assignment of the proper tax category.

Another area where we’re leveraging AI is transaction analysis.

Our recovery business is significant in determining transactions on tax and using LLMs to break down the different components of a transaction. We have the ability to use these LLMs for information across the internet, combined with the transaction history, and Ryan’s 30-plus years of recovery business to review much broader transactions and be able to process much more nuanced data.

Lastly, we have a new solution related to multiple use allocations (MPUs). It’s no surprise that information technology (IT) spend is increasing for businesses and is projected to continue doing so. For clients trying to allocate software or IT spend as category, Ryan has a patent pending solution for determining the location of digital users. We review information like IP addresses and leverage geo-fencing to help understand where tax spending should be—a critical piece of information in today’s mobile workforce.

Artificial, or augmented, intelligence (AI) has continued to take the world by storm. How does Ryan approach AI in its operations and solutions?

At Ryan, we believe in augmented intelligence, rather than artificial intelligence, because AI is not a replacement for people, and it never should be. Many, if not all, public accounting firms have a big focus on using AI to expedite processes by replacing their people with technology. At Ryan, we take a different approach. We see great value in the knowledge of our people who have spent years, even decades, developing deep-rooted knowledge and expertise in their practice. We do not leverage AI to replace their knowledge but rather to augment their abilities and empower our entire workforce.

Why did Ryan decide to develop these solutions?

We want to create solutions that are not only driven by technology but are adapted to the experiences people have. Technology, like the ones I mentioned previously, are really building blocks. As we develop one creative solution to support our clients and the challenges they face, comes another idea, or block, that builds off the previous creative genius—and then another and another, creating a synergy that leads to more technological solutions that can shape the tax industry as we know it, with our experts in the driver’s seat.

That’s what we’re here to do—improve the experiences and businesses of our clients and move the tax industry forward.

You mention improving client experiences. What impact will these solutions have on clients and the industry moving forward?

The tax industry is filled with data and many, if not all, of our clients face the challenge of sifting through and distilling down data to analyze the core pieces of information they need for tax and business purposes. The solutions we develop at Ryan, along with our team of experts, remove that burden from our clients.

While our current business looks at historical transactions, helping our clients review their taxes retroactively, these innovative solutions help move the review process further upstream, allowing us to analyze a transaction at the time it took place. This is a massive win for our clients—the more proactive we can be in addressing their problems in real time, the more time they have to focus on other elements of their business. We hope this also inspires others in the industry to continue pushing the envelope and improving tax processes.

Looking to the future, what’s on the horizon for AI and Ryan?

AI gives us the unique ability to access a vast amount of information, and there is an incredible amount of data that is publicly available. We are continuously evaluating the data that aligns with Ryan’s services, assessing where we may have an opportunity to explore new services and technological capabilities.

Simply put, with AI, we can do a lot more, a lot quicker than ever before, and we can see more creative solutions for existing problems. Combined with our experts’ deep-seated knowledge, we are excited for what’s to come alongside existing and emerging technologies.  

What are the next steps for current or potential clients interested in the solutions we discussed today?

For those wanting to learn more about how Ryan is approaching AI solutions or other creative technology solutions, I encourage you to reach out to me directly. If you are already working with us, we’ll bring your account team in to explore how solutions like the ones I discussed today may be applicable to your business.

Additionally, if you have other complicated pain points for your business, we’d be happy to have a conversation and discuss how our global team of tax experts can support your company’s needs.

Sam Guevara
Principal
Ryan
312.980.1147
sam.guevara@ryan.com
Connect with me on LinkedIn.